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Curating the Internet: Business, leadership, and management micro-summaries for October 2, 2019

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Steve Palmer
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Block.One settles with SEC over 2017 ERC-20 token sales; Credit Suisse Chief Operating Officer resigns over inappropriate surveillance; Online negative sentiment for WeWork was so bad that Google Ads couldn't fix it.; Coinbase introduces the Crypto Ratings Council to publish findings on which crypto tokens qualify as secuirities; and a Steem photo-essay describing a community response to wildfire

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  1. EOS Maker Block.One Settles With SEC Over Unregistered Securities Sale - The $24 million settlement applies to the ERC-20 token that Block.One used for its initial fundraising. According to the SEC, the token went on sale shortly before the SEC issued its 2017 guidance, and continued for almost a year afterwards. The amount is about one half of one percent of the ICO's $4.1 billion total draw. The ERC-20 token is no longer in circulation, and does not need to be registered with a security. The SEC also granted a waiver to Block.One in regards to certain ongoing restrictions.

  2. Credit Suisse executive steps down over spying case - Credit Suisse Group AG Chief Operating Officer (COO) Pierre- Olivier Bouee took responsibility for surveillance of Iqbal Khan, the bank's former wealth management officer. The COO resigned, accepting sole responsibility for the surveillance, which - after an investigation - the board of directors said was unfounded. The bank's head of security also resigned, and James Walker has been appointed COO and board member. And in apparently related news, Credit Suisse consultant linked to spying on former executive reportedly dies. His identity is unknown, but he seems to have shot himself.

  3. Google examined WeWork search results and reportedly found 'the most alarming negative sentiment trends' it's seen for such a company - According to a report in New York Magazine, Google ran an analysis of online sentiment prior to WeWork's IPO and found that online sentiment was worse than for any prior company in a similar situation. The Chief Marketing Officer, Reeves Wiedeman, wrote a message to the company's spokesman that an advertising campaign to reverse the sentiment would have blown through their budget in a matter of hours. Shortly after that, the company's valuation collapsed by about $30 million from its high of $47 million.

  4. Introducing the Crypto Rating Council - On the coinbase blog, they introduce a new body, the Crypto Rating Council that is intended to help market participants to stay complaint with US laws and regulations. Founding members include: "Anchorage, Bittrex, Circle, Coinbase, DRW Cumberland, Genesis, Grayscale Investments and Kraken." By asking a series of several dozen yes/no questions, the council is creating a scalable points-based rating system to determine whether a crypto token is a commodity, a security, a currency, or something else. In coming months, the blog says that they plan to add members to the council, and publish ratings for more tokens.

  5. STEEM Fighting Fire with Fire - With photos and a textual description, @breezin tells us about her community response to the challenge of a large wildfire in drought-weary South Africa. Imagining the loss to the people who were affected, it is a sad situation, but the photos are eerily beautiful. (A 10% beneficiary setting has been applied to this post for @breezin.)

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